New code kicks in for annual reports

THIS year will be the first in which investors get to see the impact of the new Code of Corporate Governance on the presentation of information in annual reports as the new guidelines kick in.

The revised Code, issued in May 2012 and to take effect for financial years starting on or after November that year, will thus apply to reports for 2013.

Under the revised Code, the remuneration paid to each individual director and the top five executives must be disclosed. They also have to be named.